Schneider Electric and AVEVA are set to come together to lead in industrial software
21 July 2015
Schneider Electric SE has reached a non-binding agreement with AVEVA Group PLC on key terms and conditions of a combination of selected Schneider Electric industrial software assets and AVEVA (forming the ‘Enlarged AVEVA Group’).
The aim is to create a global leader in industrial software, with a portfolio of asset management solutions from design & build to operations, with both scale and a distinct market position to address critical customer requirements along the full asset life cycle in key industrial and infrastructure markets.
As part of the transaction, Schneider Electric would contribute a selection of its industrial software assets to AVEVA along with a cash payment in exchange for new AVEVA shares, which would give Schneider Electric a majority stake of 53.5% in the Enlarged AVEVA Group on a fully-diluted basis.
The move will Provide a comprehensive integrated offering through its increased portfolio which will include Schneider Electirs SimSci, Wonderware and Avantis solutions AVEVAs PDMS, Everything3D and NET– creating a holistic and more visible value proposition enabling the Enlarged AVEVA Group to better navigate specific cycles by the digital asset lifecycle through process simulation, detailed 3D design, asset data management, operations management and asset performance management for large, complex engineering projects in the process and plant industries.
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